Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest.

The only relevant test of the validity of a hypothesis is comparison of prediction with experience.

What makes it [economics] most fascinating is that its fundamental principles are so simple that they can be written on one page, that anyone can understand them, and yet very few do.

The problem in this world is to avoid concentration of power - we must have a dispersion of power.

Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible.

When you start paying people to be poor, you wind up with an awful lot of poor people.

There is no figure who had more of an influence, no person had more of an influence on the intellectuals behind the Iron Curtain than Friedrich Hayek. His books were translated and published by the underground and black market editions, read widely, and undoubtedly influenced the climate of opinion that ultimately brought about the collapse of the Soviet Union.